Trump, Donald Trump Jr., Ivanka Trump, and Eric Trump Used Fraudulent Statements of Financial Condition to Obtain Millions in Economic Benefits, Lawsuit Seeks to Remove Trump and His Children from Their Roles at the Trump Organization; Ban Them from Future Leadership Roles in New York; Repay $250 Million They Illegally Obtained. This legislation will provide real and necessary changes to our civil and criminal laws to stop the perpetrators of these crimes and provide the protections and remedies needed to keep people in their homes. Fox News Flash top headlines are here. Copyright Some examples of this misconduct include: Valuations of this property relied on objectively false numbers to calculate property values. Attorney General James is making a "major announcement" at - News10NBC Attorney General James Takes Action to Protect New Yorkers' Homes and For too long, the government has lacked the necessary tools to combat deed theft. The statements do not list separate values for each of Mr. Trumps club facilities. Trump Turnberry, a golf club in Scotland, was valued at nearly $127 million, but the suit said that since it opened in 2017 the golf course has operated at a loss each year. I applaud Attorney General James for her attention to this issue and for working with the Legislature to craft a package of legislation to hold deed theft perpetrators accountable and protect homeowners from this traumatizing experience., We are not doing enough to protect long term homeowners, especially black and brown ones, from predatory scams, said Assemblymember Phara Souffrant Forrest. 3. This is a breaking news and developing story. Mr. Trump thought he could get away with the art of the steal, but today, that conduct ends. This article has been updated with reporting from NBC News. Headlines frequently recount the properties stolen from long-time homeowners through deed theft scams that ultimately and too often displace residents from the very communities they helped foster and the homes they spent a lifetime nurturing for the benefit of their families future generations. of Justice in exchange for pleading guilty to federal charges. James, in an email that was shared online by a CBS reporter, said Wednesday night that she. James will be joined by attorneys general from California, the District of. You wont find mainstream media bias here. New York Attorney General Letitia James on Tuesday accused former President Donald Trump of massive fraud in a civil lawsuit following a three year inquiry i. I thank my colleagues on the Committee for their leadership and engagement, especially Senator Myrie; Attorney General James for putting her own powerful voice and her offices considerable resources and expertise behind this effort; Assemblymember Weinstein for her long commitment to this issue and her sponsorship; and the many public agencies and officials, legal services organizations, and housing advocates who testified and provided input. NEW YORK - New York Attorney General Letitia James announced today that she has issued guidance to New York state law enforcement agencies to remind them about tenants' rights to organize. Quotations. The 16 defendants in this case include: Donald Trump, Donald Trump, Jr., Ivanka Trump, Eric Trump, the Trump Organization Inc., the Trump Organization LLC, the Donald J. Trump Revocable Trust, DJT Holdings LLC, DJT Holdings Managing Member, Allen Weisselberg, Jeffrey McConney, as well as the entities that received the loans that are the subject of the action, including: Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post Office LLC, 40 Wall Street LLC, and Seven Springs LLC. The historically Black neighborhoods I represent, Bedford-Stuyvesant and North Crown Heights, are disproportionately targeted, as the hard work and cultural vibrancy of their communities have caused real estate values to skyrocket in recent years. click here to become a subscriber. Before then, there wasnt even a unit in the Queens districts attorneys office to handle deed fraud,said Queens District Attorney Melinda Katz. It has become a popular tactic used by scammers to illegally obtain ownership of a property, and disproportionately impacts elderly homeowners and homeowners of color, especially Black and Brown homeowners in gentrifying neighborhoods. Attorney General Harry Litman on Tuesday said, Ive already observed Terwilligers skill in representing Meadows. This was done intentionally to conceal significant swings in the value attributed to individual clubs and to conceal the methods used to arrive at those values. 1,256. Homeowners would be able to pause their evictions in housing court until the suspected deed theft case has been litigated. I'm proud to say that the sweeping changes we have enacted will add new safeguards for them and allow good faith buyers to recoup financial losses from fraudulent deals, while holding unscrupulous lenders criminally liable., Deed theft is among the most heinous crimes frequently committed in Brooklyn, said New York City Council Member Chi Oss. New York State Attorney General Letitia James will make a "major national announcement" today. ", "Today's filing represents the culmination of nearly three years of persistent, targeted, unethical political harassment by the New York State Attorney General, Letitia James," said a Trump Organization spokesperson in a statement. It is understood that the former North Carolina congressman will plead guilty to several federal charges as part of a deal for which he has already received limited immunity in exchange for his testimony.. Watch video of his full news conference below or at this link. New York Attorney General Letitia James will make a 'major national announcement' on Thursday from the New York's Attorney General office. From 2014 to the present, the New York City Sheriffs Office counted nearly 3,500 complaints of deed theft throughout New York City, with more than 1,500 complaints in Brooklyn and 1,000 from Queens. These protections are currently only available to homeowners whose properties are in foreclosure or on the tax lien sale list, but not to homeowners whose properties are on the utility lien sale list. Her news conference is scheduled to begin at 11:30 AM ET. Deed theft scams are not just limited to New York City. In an update to its reporting, The Independent adds Meadows attorney denies he would ever enter any guilty plea: A source who was briefed on the agreement claimed that the alleged agreement will involve the ex-chief of staff entering pleas of guilty to unspecified federal crimes but an attorney for Mr Meadows, George Terwilliger, denied that to The Independent. If a scammer then attempts to take out a loan against the property, banks or title insurance companies will see the red flag and know not to provide a loan. I am particularly pleased and grateful that Attorney General Letitia James has devoted ample resources to the fight against deed theft and am proud to join her in her efforts to fight these cruel thefts.. All people and families should have the ability to attain and pass down generational wealth without it being targeted, especially Black homeowners that have been previously excluded. WATCH: Complete statement from Special Counsel Jack Smith: Today an indictment was unsealed charging Donald J. Trump with felony violations of our national security laws as well as participating in a conspiracy to obstruct justice. pic.twitter.com/llUlrvpVe4. This conduct was in violation of New York Executive Law 63(12), which gives the Office of the Attorney General (OAG) special and broad powers to go after persistent and repeated fraud and illegality, which in this case includes violating other state laws prohibiting the submission of false financial statements, the falsification of business records, and the commission of insurance fraud. Its perpetrators take advantage of the elderly and vulnerable and destroy hard-earned generational wealth. Based on the public reporting, it appears he did 2 or 3 above. The Ladder loan was approved based in part on an inflated appraisal prepared by Cushman & Wakefield. This lump sum figure was by far the largest asset value on Mr. Trumps statement of financial condition every year. WATCH LIVE - New York Attorney General Letitia James and law enforcement agencies make an announcement regarding policing in the state. But if he got him an immunity dealas opposed to a guilty plea + promise to cooperate dealhe is a wizard. The announcement is set for 11:30 a.m. at the attorney general's office. Typically, when a home is sold and the deed is transferred legally, the rightful homeowner and seller either pays off the rest of the existing mortgage on their house with the funds from the sale, or the mortgage is transferred to the new owner. Mutual Fund and ETF data provided by Refinitiv Lipper. Mr. Trump made known through Mr. Weisselberg that he wanted his net worth on his statements to increase every year, and the statements were the vehicle by which his net worth was fraudulently inflated by billions of dollars year after year. In 30 year-old Trump Tower, the record sale at that time was a mere $16.5 million at a price of less than $4,500 per square foot. This predatory practice is an existential threat to the wellbeing of our Citys Black and brown neighborhoods, said New York City Council Member Crystal Hudson, Chair of the Committee on Aging. Trump has denied wrongdoing and has called James' investigation a politically motivated "witch hunt" by an attorney general he has called "racist." Fox News istold that it will be regarding a probe of the National Rifle Association (NRA), despite the fact some previously speculated that it would involve President Trump. We need better protections for homeowners from predatory lenders and deed theft throughout our state. ", Weisselberg last month pleaded guilty to unrelated criminal charges of tax evasion brought by the Manhattan district attorney's office, which has been conducting a parallel investigation. I applaud Attorney General James for her initiative in fighting back against this ruinous financial crime., Homeownership is one of the biggest milestones for many individuals and families, setting the foundation to generational wealth for many. It's the art of the steal.". In some years these restricted funds accounted for almost one-third of all the cash reported by Mr. Trump. Founded in 1846, AP today remains the most trusted source of fast, accurate . September 21, 2022 at 11:10 AM ET By David Badash Tuesday night Attorney General of New York Letitia James sent out a press release promising a "major announcement," but did not give any indication what it might be. This slate of proposals by the Attorney General is an important and necessary step to helping these homeowners and we are grateful for the Attorney General's leadership to combat deed theft.. 2023 WATCH LIVE: New York Attorney General Letitia James makes announcement In a civil trial, jurors would be able to draw a negative inference about Trump declining to answer. Establishing a crime of deed theft will allow my Offices Housing & Tenant Protection Unit to continue rooting out bad actors, said Manhattan District Attorney Alvin L. Bragg, Jr.Deed fraud affects the most vulnerable New Yorkers, and predators can brazenly snatch someone's home away with a few clicks of a mouse. Quotes displayed in real-time or delayed by at least 15 minutes. New York Attorney General Letitia James said she will drop big news at an eventThursday morning. Change: The legislation grants OAG concurrent original jurisdiction to prosecute deed theft crimes alongside District Attorneys throughout the state. Oct. 29, 2021, 10:44 AM PDT By Dareh Gregorian New York Attorney General Letitia James, whose office issued a scathing report on former Gov. But homeowners need more protections in both civil and criminal courts, which is why I support this proposed legislation, which gives prosecutors more tools to hold offenders accountable and make victims whole. Thank you. "It is abundantly clear that the Attorney General's Office has exceeded its statutory authority by prying into transactions where absolutely no wrongdoing has taken place. Change: This legislation includes a provision to expand the protections of HETPA to include homeowners with active utility liens. Andrew Cuomo that led to his resignation, announced. Who is Letitia James, the New York attorney general who filed - CNN The state needs to continue funding for the Homeowner Protection Program (HOPP), which has helped over 150,000 families be able to afford to stay in the homes they worked so hard to buy. Deed Theft in the First Degree, a Class B Felony: Theft of one residential real property or the theft of two or more real properties. We applaud Attorney General Letitia James and the legislative sponsors for their efforts to strengthen the states ability to investigate and prosecute crimes against homeowners. Homeownership is a stabilizing economic force for their families and loved ones, and deed theft robs them not just of their family home, but of their most significant financial asset and the community they have known for their entire lives. And thanks to Attorney General James leadership and these two bills, we have a chance of finally holding criminals and scammers accountable, said New York City Mayor Eric Adams. When is Letitia James' Announcement? How to Watch NY AG - Newsweek Ms. Miller accused the attorney general of "trampling on the right to free speech," while Ms. James said the group "has repeatedly violated our national and state clinic access . This new legislation will allow my office and others to continue to fight back against scammers and identity thieves. This project was captained by Ivanka Trump, and Mr. Trumps statements were central to their effort to win the bid to redevelop this site. The civil lawsuit, filed Wednesday in State Supreme Court in Manhattan, seeks a $250 million judgment and a prohibition on any of the Trumps leading a company in the state of New York. In cases that involve fraud, homeowners are tricked into unknowingly signing over their homes to a scammer. They shared . NEW YORK - New York Attorney General Letitia James today recovered more than $1.7 million from COINEX (CoinEx) for failing to register as a securities and commodities broker-dealer and for falsely representing itself as a crypto exchange. James, who is black, rejected a settlement offer from the Trump Organization last month to resolve the matter, sources told ABC News. September 21, 2022 11:42 AM N ew York Attorney General Letitia James unveiled a civil fraud lawsuit against former President Donald Trump and three of his adult children Wednesday regarding the. There are not two sets of laws for people in this country; we must hold former presidents to the same standards as everyday Americans. All Rights Reserved. "The magnitude of financial benefit derived by Mr. Trump and the Trump Organization by means of these fraudulent and misleading submissions was considerable," the suit said. Get the latest updates from the 2024 campaign trail, exclusive interviews and more Fox News politics content. They also issued statements that were in blatant violation of generally accepted accounting principles (GAAP) in the United States, despite representing that the statements were prepared in accordance with these principles. Home | New York State Attorney General New York attorney general Letitia James to make 'major announcement All told, the financial benefit realized from this scheme was approximately $250 million, including interest savings and transaction profits, because of the favorable loan terms they were able to obtain using his false and misleading statements. New York Attorney General Letitia James is making a "national announcement" on Wednesday at a press briefing. Strong legislation provides homeowners with the protection needed to stay in their homes and preserve our communities., At BKA, since the onset of the COVID-19 pandemic, we've seen a surge in deed theft cases, though these scams have been a persistent issue since the 2008 recession, said Tamara del Carmen, Consumer and Economic Advocacy Program Director, Brooklyn Legal Services CorporationA.

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